China Mobile And China Unicom Sit At 52-Week Highes
September 3, 2007 by Douglas A. McIntyreShares of both China Mobile (CHL), the largest Chinese cell company, and No.2 China Unicom (CHU) both sit at 52-week highs. And, no wonder. China Unicom now has almost 151 million subscribers, up from 142 million at the end of last year. It shares are at $19, up from a 52-week low of $8.84. The company has a market cap of $24 billion.
China Mobile has 338 million subscribers. And it is moving aggressively into internet service. According to The Wall Street Journal "the number of people who access the Internet through their cellphone surged to 44 million in the first half from 17 million at the end of last year."
China Mobile shares now trade at $68.34, up from a 52-week low of $32.41. The company has a market cap of $271 billion. By way of contrast’s AT&T’s (T) is $243 billion.
The most impressive thing about the two stocks should continue to rise. The penetration of cell use in rurual areas of China is still much lower than in the big cities, so there are still several hundred potential subscribers.
Douglas A. McIntyre
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